The Food and Drug Administration (FDA) is considering stricter border controls for GLP-1 weight loss drugs due to illegal imports from China and online platforms. The agency is also proposing amendments to the Pharmaceutical Affairs Act to hold online platforms accountable for hosting illegal drug sales.
India's crude oil imports from Russia are projected to reach an all-time high of 2.35 million barrels per day in June, driven by Strait of Hormuz disruptions and continued demand. Russia has become India's primary supplier since the US-Iran conflict began.
Scott McTominay's success in Serie A highlights a debate on Italian football's reliance on foreign talent. As Scotland's World Cup hopes rest on him, his journey from underappreciation at Man Utd to Serie A MVP and iconic Scottish player is examined.
India's thermal coal imports dropped to a four-year low in January-May, totaling 65 million tons, a 12% annual decline. This is driven by increased domestic coal production and a significant 22% surge in renewable energy generation, as the country aims to reduce import reliance.
Hainan Free Trade Port's "zero-tariff" imports surged 99.5% to 2.26 billion yuan ($315 million) by April end. The region also saw growth in foreign economic activity, duty-free sales, and company registrations, driven by new customs and preferential policies.
Russia-Japan trade turnover rose 5.76% year-on-year in May 2026 to 106.9 bln yen. LNG was Japan's top import from Russia, while passenger cars dominated Japanese exports.
India's silver imports saw a drastic 81.6% decline in May, falling to $76 million from $411 million in April. This sharp drop follows the government's imposition of higher import duties (6% to 15%) and mandatory licensing, aimed at curbing record-breaking imports from the previous fiscal year.
Russia's imports from ASEAN countries have surged by 70% over the last ten years, reaching $21 billion in trade turnover. Minister Maxim Reshetnikov highlighted purchases of agricultural raw materials, machinery, and vehicles, achieved despite challenging global conditions and WTO principle erosion.
The European Parliament approved cutting import duties on US industrial goods, fulfilling a trade deal and averting new tariffs threatened by Donald Trump. The EU aims to meet a July 4 deadline.
The European Parliament approved a deal to remove EU import duties and ease access for US goods, averting further tariff conflicts and setting tariffs on EU imports to the US.
A potential US-Iran peace deal and the reopening of the Strait of Hormuz could lead to crude oil prices falling below $80 a barrel within weeks, according to Indian refining company executives. The agreement aims to end military conflict and lift US naval blockades, restoring vital shipping routes.
Indian PM Narendra Modi visited Slovakia, a key EU member, aiming to deepen ties with a nation balancing East and West. The visit elevated bilateral relations to a comprehensive partnership, with trade reaching $1.8 billion and a focus on the India-EU FTA.
India's trade map has been altered by the West Asia conflict. Oman rose to 10th from 30th in imports, driven by energy, while UAE slipped. Singapore overtook China as India's 3rd largest export destination.
Falling global energy prices, potentially due to a US-Iran agreement, could offer relief to Indian refiners and gas consumers. Brent crude has dropped to nearly $83/barrel, impacting India's 88% crude import dependence. LNG prices, though moderated, remain elevated.
The EU's trade deficit with China has reached a record €1 billion per day, totaling €31.9 billion in April. This growing imbalance, fueled by subsidized Chinese electric cars and components, is raising concerns about Europe's industrial future and prompting discussions among EU leaders on potential measures.
A potential US-Iran peace deal and reopening of the Strait of Hormuz could significantly benefit India's economy. Expected outcomes include lower crude oil prices, rupee appreciation, reduced inflation, and improved balance of payments, potentially boosting GDP growth.
EU gas imports from Russia, including pipeline and LNG, fell 17% to 4.6 bln euro in Jan-Apr 2026. Belgium, France, and Spain were top LNG importers in April. The EU plans a complete ban on Russian gas by late 2027.
EU imports of Russian LNG rose 17.9% between Jan-May 2026 compared to 2025, with 96.7% of Yamal LNG exports going to EU ports. This occurs despite EU bans on short-term contracts and upcoming long-term contract bans, highlighting a missed opportunity to fully pressure Russia's war economy.
Ukraine plans to increase military wages by one-third to 30,000 hryvnias and offer fixed-term contracts to boost recruitment. President Zelenskyy also aims to recruit more foreign volunteers. Meanwhile, Russia's Putin claims Ukrainian drone strikes aim to sow confusion and damage the economy, though he admits some economic damage.
The UK government will ban imports of diesel and jet fuel made from Russian oil by January 1, 2027, as part of its sanctions package against Moscow. This move aims to increase pressure on Russia while maintaining domestic stability, though critics argue it could still finance Moscow's war effort.
Russia's Rosselkhoznadzor will restrict all quarantinable product imports from Armenia starting June 12, citing systemic identification of pests and a lack of a safety algorithm. The ban is temporary until a traceability system is developed.
Russia was India's largest oil supplier in April 2026, providing 1.7 million barrels per day (bpd), according to an OPEC report citing Kpler data. This marks a slight decrease from March's 2.1 million bpd. Saudi Arabia was the second-largest supplier.
Saudi Arabia has resumed imports of Lebanese exports following extensive security and political coordination between the two countries, particularly on combating drug trafficking. The decision, welcomed by Lebanese officials, aims to support Lebanon's economy and institutions.
Armenia's Public Services Regulatory Commission head, Mesrop Mesropyan, stated the country could theoretically import gas from Azerbaijan, Turkmenistan, or Iran. This comes as Russia's Foreign Ministry warned Armenia that Moscow might suspend or cancel gas supply agreements if Yerevan continues its EU accession process.
